System and method for the utilization of pricing models in the aggregation, analysis, presentation and monetization of pricing data for vehicles and other commodities

Abstract

Embodiments of systems and methods for the aggregation, analysis, display and monetization of pricing data for commodities in general, and which may be particularly useful applied to vehicles are disclosed. In certain embodiments, one or more models may be applied over a set of historical transaction data associated with a vehicle configuration to determine pricing data. Some models may leverage incremental data in various conditions, including cases where fewer than a desired number of historical transactions are present in the bin of a specified vehicle, where fewer than, equal to, or more than a certain number of list prices for the specified vehicle available, and where no historical transaction data for new models is available.

Description

CROSS REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation of U.S. patent application Ser. No. 12 / 896,145, filed Oct. 1, 2010, now U.S. Pat. No. 8,612,314, entitled “SYSTEM AND METHOD FOR THE UTILIZATION OF PRICING MODELS IN THE AGGREGATION, ANALYSIS, PRESENTATION AND MONETIZATION OF PRICING DATA FOR VEHICLES AND OTHER COMMODITIES,” which is a continuation-in-part of U.S. patent application Ser. No. 12 / 556,109, filed Sep. 9, 2009, now U.S. Pat. No. 9,111,308, entitled “SYSTEM AND METHOD FOR CALCULATING AND DISPLAYING PRICE DISTRIBUTIONS BASED ON ANALYSIS OF TRANSACTIONS,” which claims a benefit of priority from U.S. Provisional Applications No. 61 / 095,550, filed Sep. 9, 2008, entitled “SYSTEM AND METHOD FOR AGGREGATION, ANALYSIS, AND MONETIZATION OF PRICING DISTRIBUTION DATA FOR VEHICLES AND OTHER COMMODITIES” and No. 61 / 095,376, filed Sep. 9, 2008, entitled “SYSTEM AND METHOD FOR CALCULATING AND DISPLAYING COMPLEX PRODUCT PRICE DISTRIBUTIONS BASED ON AGGREGATIO...

AI Technical Summary

Benefits of technology

The patent text discusses a method for getting accurate pricing information for vehicles by using historical transactions. However, there may be not enough data to make reliable predictions for certain vehicles. To address this, the text suggests using additional price ratio models that leverage incremental data to increase accuracy.

Problems solved by technology

In many cases, however, there may be fewer historical transactions than is desired to generate reliable or accurate predictions for a specified vehicle.

Such data scarcity may occur in the cases of a vehicle model which is relatively new to the market or is an exotic of which few models are sold.

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